Japan said on Tuesday it had lodged a complaint with South Korea and after a Korean lawmaker said the Japanese emperor should apologize to “comfort women” forced to serve in Japanese military brothels in World War Two. Relations between Japan and South Korea, both U.S. allies, have amid an intensifying row over their wartime history. South Korea’s National Assembly Speaker Moon Hee-sang said in an interview with Bloomberg last week Japanese Emperor Akihito, “as the son of the main culprit of war crimes”, should apologize to the women before he steps down at the end of April.

Carlos Ghosn remains a director of Renault SA even though he has resigned as chairman and chief executive and Thierry Bollore is now chairman of the Renault-Nissan BV holding company, Renault said on Tuesday. “In addition to the Board of Directors’ communication of January 24, 2019, Renault wishes to specify that Mr. Ghosn resigned from his terms of office as Chairman of the Board ofDirectors and Chief Executive Officer, but remains, as of the date hereof, Director of Renault SA,” the company said.

U.S. futures added to gains as President Donald Trump spoke at a rally without casting any immediate shadow over a deal in principle among legislators to fund the government. Japanese 10-year bond yields remained in negative territory even after the Bank of Japan on Tuesday cut purchases of some longer-dated bonds for the first time since July in a regular operation. The BOJ has sought to taper its purchases as it focuses on yield targets rather than quantitative easing.

Russia will dramatically cut its estimate of the sum it expects to recover from a “bad bank” set up after the collapse of three major lenders, according to three sources familiar with new calculations being prepared for the central bank. The central bank has spent over $40 billion bailing out Otkritie, B&N and Promsvyazbank since 2017. It had hoped to recover between 40 and 60 percent of the value of their 2 trillion rubles ($30.45 billion) assets that were transferred to Trust Bank, the bad bank, in the rescue deal.

Benchmark futures in Singapore plunged as much as 7 percent to $82 a ton, albeit in thin overnight action, before trading 4.7 percent lower at $84 by 3:04 p.m. The fall comes after prices broke above $90 last week, capping a 20 percent-plus surge over the past fortnight. On the Dalian Commodity Exchange, iron ore futures fell 2.8 percent, after closing limit-up Monday to their highest since March 2017 as Chinese traders played catch-up following the Lunar New Year break. â€œIf there are no more additional closures or planned closures in Brazil, then there may be some kind of price correction,â€� Richard Lu, analyst at CRU Group in Beijing, said by phone.

The company also announced an agreement with export and logistics company Li & Fung Ltd. on a sourcing partnership for Debenhams own-brand products. The deal â€œwill help us anticipate and respond more quickly to trends and our customersâ€™ preferences, as well as delivering better quality product,â€� Chief Executive Officer Sergio Bucher said in a statement Tuesday. Debenhams, laden with debt, has been caught up in the sweeping decline of the U.K.â€™s traditional downtown retailers.

The Peopleâ€™s Bank of China may shift the interest-rate corridor down by 10 basis points in the second quarter if economic data continue to show softness, said Ng, who left the HKMA in 2015 and established investment firm Eastfort Asset Management Pte Ltd. â€œ2019 should still be a mild bull market for China bonds, at least for the first half of the year given a dovish Fed, slowing onshore growth and more aggressive PBOC stance,â€� said Ng, who favors the nationâ€™s five-year notes. Yields on Chinaâ€™s benchmark five- and 10-year notes have tumbled by almost 100 basis points over the past year as the U.S.-China trade war dent exports and factory output, spurring investors to seek havens.

â€œWe have not been on a constructive track,â€� Volcker told Bridgewater co-chief investment officer Ray Dalio, in a podcast video released on Tuesday. â€œI think thatâ€™s fair to say.â€� Volcker, widely credited with ending the high levels of inflation seen in the United States during the 1970s and early 1980s, said Trump’s big tax cuts and spending increases underscore the lack of transparency of the president’s administration. Whatever you think about that tax bill, it shouldnâ€™t have been rammed through Congress without any debates at midnight on Dec. 31,â€� Volcker said.

Since the initial incident in Brazil in late January, the top producer has announced supply cuts of as much as 70 million tons, although itâ€™s said it will try to offset some lost production. The mainland has a very substantial ore-mining industry, but production has been hurt in recent years as the content is lower-grade and higher-cost than foreign supplies, and Chinese producers have been the target of a strict environmental clampdown.